File Photo: In the case of corporate investments, the entry and stay of third-country nationals is allowed in the case of a third-country national that fully owns a domestic company, which has invested at least 400,000 euros. AMNA

Greece sets new criteria to offer a Golden Visa to foreign citizens: Five-year entrance and residence permit

Greece launched a new set of criteria to offer a Golden Visa to foreign citizens with a new joint ministerial decision setting out procedures offering a five-year entrance and residence permit in Greece for non-EU nationals.

More specifically, in order to qualify, a third-country citizen will have to invest at least 400,000 euros in a company based in Greece (excluding portfolio investment companies and real estate investment companies), buy shares through a share-capital increase scheme or bonds through a bond issue. Alternatively, they must: invest at least 400,000 euros in a real estate investment company investing exclusively in Greece or buy shares through a share-capital increase scheme; invest at least 400,000 euros in a capital equity company or an equity mutual fund investing exclusively in companies based in Greece; invest at least 400,000 to buy Greek state bonds with a maturity of at least three years through a credit institution based in Greece; have a time deposit of at least 400,000 euros at a domestic credit institution with a duration of at least 12 months; buy shares, corporate bonds or state bonds worth at least 800,000 euros; invest at least 400,000 euros in a mutual fund investing exclusively in shares, corporate bonds or state bonds; invest at least 400,000 euros in buying shares in an Alternative Investment Organisation set-up in Greece or in another EU member-state that invests exclusively in real estate assets in Greece. The minimum price for investing in a real estate asset in Greece is set at 250,000 euros.

In the case of corporate investments, the entry and stay of third-country nationals is allowed in the case of a third-country national that fully owns a domestic company, which has invested at least 400,000 euros. Up to three citizens can get a Golden Visa for investments in Greece made by a foreign company (if these people are shareholders or executives in the company). The maximum number of entry visas and residence permits in Greece, depending on the value of investments made by a foreign company, envisages at least 800,000 euros for one person, 1.6 million for two people and 2.4 million euros for three people. This sum is raised to 1.6 million, 3.2 million and 4.8 million euros for one, two or three permits, respectively, for corporate investments in shares, corporate bonds or state bonds.

Source: ANA-MPA

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